Converse bank becomes member of securities settlement system of central depository

04.11.2015 19:52

YEREVAN, November 4. / ARKA /. On November 2, 2015 "Converse Bank" CJSC became a member of securities settlement system and thus was granted statuses of depository system account operator and regulated market settlement system member (RMSSM), NASDAQ OMX Armenia stock exchange said.

It said hereinafter Converse Bank customers can easily reach services of "Central Depository of Armenia" OJSC (CDA), specifically all the services related to securities custody.

To recall, in March 2013 the Central Depository of Armenia launched a new business model of depository system in Armenia, according to which registry keeping of joint-stock companies and securities custody services will be provided to customers via account operators - investment companies and banks - which signed the relevant agreement with the CDA.

Converse Bank joined the list of 15 account operators of the depository system and 15 RMSSM.
Converse Bank registered in 1993 is owned by the Argentinean businessman of Armenian origin Eduardo Eurnekian (95%). The remaining 5% belong to the Armenian Apostolic Church.

As of December 31, 2014 its capital stood at 23 billion drams and the assets at about 150 billion drams; liabilities –at 126 billion drams; credit investments – at 97 billion drams. Its net profit increased more than five times to 2.4 billion drams. ($ 1 - 474.48 drams). -0-